VEON (NASDAQ:VEON) Sees Unusually-High Trading Volume – Time to Buy?

VEON Ltd. (NASDAQ:VEON) saw strong trading volume on Monday . 511,184 shares changed hands during trading, an increase of 419% from the previous session’s volume of 98,479 shares.The stock last traded at $38.19 and had previously closed at $38.27.

Wall Street Analyst Weigh In

Separately, Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of VEON in a research report on Monday.

VEON Trading Up 2.6%

The business has a fifty day moving average price of $47.32 and a two-hundred day moving average price of $44.02. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 2.34. The firm has a market capitalization of $2.90 billion, a PE ratio of 6.15 and a beta of 1.51.

VEON (NASDAQ:VEON) last released its quarterly earnings results on Thursday, May 15th. The Wireless communications provider reported $1.36 EPS for the quarter, topping the consensus estimate of $0.83 by $0.53. VEON had a positive return on equity of 36.48% and a negative net margin of 81.71%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $996.00 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rhumbline Advisers boosted its holdings in shares of VEON by 300.0% during the fourth quarter. Rhumbline Advisers now owns 720 shares of the Wireless communications provider’s stock worth $29,000 after purchasing an additional 540 shares during the period. GAMMA Investing LLC boosted its stake in shares of VEON by 21.3% during the 1st quarter. GAMMA Investing LLC now owns 3,613 shares of the Wireless communications provider’s stock valued at $158,000 after buying an additional 635 shares during the period. Geode Capital Management LLC grew its holdings in shares of VEON by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 43,322 shares of the Wireless communications provider’s stock valued at $1,737,000 after acquiring an additional 1,254 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of VEON in the fourth quarter worth $58,000. Finally, Russell Investments Group Ltd. boosted its position in VEON by 2.2% during the fourth quarter. Russell Investments Group Ltd. now owns 117,808 shares of the Wireless communications provider’s stock valued at $4,724,000 after purchasing an additional 2,512 shares during the last quarter. 21.30% of the stock is owned by institutional investors and hedge funds.

About VEON

VEON Ltd., a digital operator, provides connectivity and internet services in Pakistan, Ukraine, Kazakhstan, Bangladesh, Uzbekistan, and Kyrgyzstan. It offers mobile telecommunications services, including value added and call completion, national and international roaming, wireless Internet access, mobile financial, and mobile bundle services; data connectivity, cross border transit, voice, Internet, and data services; fixed-line telecommunications using intercity fiber optic networks; and Internet-TV using Fiber to the building technology.